Did you know? Alpine Apart­ments are NOT part of a body cor­po­rate

Alpine News - - Property - BY TESS HAUSER So­lic­i­tor Tress Cox Lawyers

WE OF­TEN hear people on the moun­tain re­fer­ring to their apart­ment build­ing as a ‘Body Cor­po­rate’ or ‘Own­ers Cor­po­ra­tion’. These terms mean the same thing, how­ever, Alpine apart­ment build­ings (mostly) are not ‘own­ers cor­po­ra­tions’ un­der the law.

In essence this means that Alpine apart­ment man­agers are not re­quired to ad­here to the obli­ga­tions pro­vided by each state’s own­ers cor­po­ra­tion leg­is­la­tion and it may also mean that own­ers of in­di­vid­ual apart­ments are not re­quired to com­ply with leg­isla­tive con­trols.

In prac­tice, Alpine apart­ments be­have like own­ers cor­po­ra­tions. Sim­i­lar obli­ga­tions that are im­posed on own­ers cor­po­ra­tions by statute are im­posed on Alpine com­pa­nies (of­ten cre­ated for the sole pur­pose of hold­ing the Head Lease and man­ag­ing the apart­ment build­ing) by the Com­pany Con­sti­tu­tion or Apart­ment Rules.

With this said, if you ever have a Body Cor­po­rate is­sue, don’t be fooled into head­ing for your state’s strata or own­ers cor­po­ra­tion leg­is­la­tions. We can ad­vise or as­sist with en­quiries or dis­putes con­cern­ing Alpine apart­ments.

PHOTO: is­tock, Brett Charl­ton

PROP­ERTY: Body cor­po­rates are not so com­mon in the Alpine prop­erty mar­ket.

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